UK national debt graph - https://twitter.com/ashmcgregor/status/ ... 32/photo/1
Up over 20% up since the election.
So much for Gideon's debt reduction plan... He's announced 25 billion in cuts at today's Tory party conference, which is a joke. It doesn't even begin to scratch the surface.
Jeff
National debt
A few days ago, I saw this tweet, which indicated it might be a good time to short cable :
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It's not surprising debt is rising as we still have a yawning budget deficit and a hangover from the 2008 and the previous commitments made by the previous government. We can't even fund repayment interest at the moment, so it's ain't going to fall quickly.
I think the core problem as regards we go from here as a country is that UKIP is the only main political party who is willing to grasp the nettle and call for significantly lower spelling. Labour and the Tories know that, if they call for huge spending cuts that will see hundreds of thousands of people losing their jobs, they will be punished next May.
Red Ed is so untroubled by the national debt that he apparently forgot to talk about the deficit in his party conference speech! Strangely enough, he also forgot to mention Rotherham...
Jeff
Red Ed is so untroubled by the national debt that he apparently forgot to talk about the deficit in his party conference speech! Strangely enough, he also forgot to mention Rotherham...
Jeff
David Cameron, the Tory party leader over there in the UK, said some strange things at their recent conference...he launched into an expletive-driven rant , have a look at this...
http://www.youtube.com/watch?v=0YBumQHPAeU
http://www.youtube.com/watch?v=0YBumQHPAeU
GBP/USD down almost 4 c, in a week .. to 1.6020
Shorts, pretty happy ..
Shorts, pretty happy ..
- superfrank
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whilst there has been a recovery in GDP and employment, this economy is benefitting from £100Bn a year in extra money the govt is spending into it by borrowing yet more from the future. plus we have near zero rates.
the govt has recently announced plans to pump property prices yet further with more state aid and is now planning tax cuts.
from a sound money pov the future for the UK looks very bleak. if Labour get in expect the £ at $1.20.
the govt has recently announced plans to pump property prices yet further with more state aid and is now planning tax cuts.
from a sound money pov the future for the UK looks very bleak. if Labour get in expect the £ at $1.20.
If the GDP were up because Britain were leading an export and investment driven recovery, I'd take heart.superfrank wrote:whilst there has been a recovery in GDP and employment
However, I'd say that all we are seeing is a dead cat bounce driven by borrowing and QE fueled government spending.
What does Britain have to offer the world? We're up against competition in places where more and more of the population is educated, and people are willing to work for lower wages than us (and where companies aren't tied up in red tape).
The post-QE hangover won't be pretty.
Jeff
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We have banking. So as much as everyone hates them, there is no easier or quicker way to bring money into the UK.Ferru123 wrote:If the GDP were up because Britain were leading an export and investment driven recovery, I'd take heart.superfrank wrote:whilst there has been a recovery in GDP and employment
However, I'd say that all we are seeing is a dead cat bounce driven by borrowing and QE fueled government spending.
What does Britain have to offer the world? We're up against competition in places where more and more of the population is educated, and people are willing to work for lower wages than us (and where companies aren't tied up in red tape).
The post-QE hangover won't be pretty.
Jeff
We do for now, but if Labour win the next election they will probably go tough on the banks and cause them to leave the country forever.
London is one of the world's great financial capitals because of who Britain once was, not because of who we are. Once they banks leave, they won't be coming back.
Jeff
London is one of the world's great financial capitals because of who Britain once was, not because of who we are. Once they banks leave, they won't be coming back.
Jeff
steven1976 wrote: We have banking. So as much as everyone hates them, there is no easier or quicker way to bring money into the UK.
It's just all so sad. Government debt is simply deferred taxation for future generations. Simple as that. It is the refusal of those now to accept a reduction in living standards and reduces the living standards of those that follow.
- superfrank
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OMG do people still believe this MSM crap?! banking is what very nearly destroyed the financial system and ultimately will.steven1976 wrote:We have banking. So as much as everyone hates them, there is no easier or quicker way to bring money into the UK.
banking used to have a productive function, i.e. to lend to businesses to allow them to grow (after properly assessing the risk). now it is giant skimming operation on real economies while blowing up asset bubbles all over the place to get rich quick. the losses they incurred have essentially been transferred to nation states (via bailouts and extreme monetary + fiscal policy to stop the system imploding) which is why govt debt has gone thru the roof since 2008.
+1gazuty wrote:It's just all so sad. Government debt is simply deferred taxation for future generations. Simple as that. It is the refusal of those now to accept a reduction in living standards and reduces the living standards of those that follow.
Peter Schiff on the US economy - https://www.youtube.com/watch?v=iYYWEAr ... pXtOziiJU2
Much of what he says applies to the UK too IMHO.
Jeff
Much of what he says applies to the UK too IMHO.
Jeff
Cameron's claim about 'paying down' the national debt shown to be a sham: https://twitter.com/LabourEoin/status/5 ... 72/photo/1
- superfrank
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is this the end game?
A mad, mad world as even the experts back the nuclear option of helicopter money
http://www.telegraph.co.uk/finance/econ ... money.html
the option of permanent monetisation of govt debt will be attractive to govts and banks alike and that's why I expect it will happen, and sooner rather than later.
there's no way that the trillions printed so far were ever going to be sold back to the market anyway, and it would require decades of continuous miracle growth to get govts back to "normal" debt levels with sound money.
history shows that when govts start printing, they never stop. QE4EVA
A mad, mad world as even the experts back the nuclear option of helicopter money
http://www.telegraph.co.uk/finance/econ ... money.html
the option of permanent monetisation of govt debt will be attractive to govts and banks alike and that's why I expect it will happen, and sooner rather than later.
there's no way that the trillions printed so far were ever going to be sold back to the market anyway, and it would require decades of continuous miracle growth to get govts back to "normal" debt levels with sound money.
history shows that when govts start printing, they never stop. QE4EVA